SB2808 - Relating to approval of premium rate increases by the commissioner of insurance.

  89R16189 SCL-D     By: Hagenbuch S.B. No. 2808       A BILL TO BE ENTITLED   AN ACT   relating to approval of premium rate increases by the commissioner   of insurance.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  The heading to Subtitle E, Title 5, Insurance   Code, is amended to read as follows:   SUBTITLE E.   PREMIUMS AND PREMIUM FINANCING          SECTION 2.  Subtitle E, Title 5, Insurance Code, is amended   by adding Chapter 652 to read as follows:   CHAPTER 652.   RATE INCREASE LIMITATIONS           Sec.   652.001.     DEFINITIONS. In this chapter, "health   maintenance organization" and "insurer" have the meanings assigned   by Section 401.001.           Sec.   652.002.     COMMISSIONER APPROVAL REQUIRED.   Notwithstanding any other law and in addition to any other   applicable rating requirements, before an insurer or health   maintenance organization may collect a premium at a rate that has   increased from the rate used by the insurer or health maintenance   organization in the previous 12-month period, the insurer or health   maintenance organization shall:                 (1)     file the proposed rate with the department along   with any applicable rating manuals, supplementary rating   information, and additional information as required by the   commissioner; and                 (2)     obtain approval from the commissioner for the   proposed rate in accordance with rating standards applicable to the   line of insurance or the coverage for which the rate is used.          SECTION 3.  The changes in law made by this Act apply only to   an insurance policy or health benefit plan delivered, issued for   delivery, or renewed on or after January 1, 2026.          SECTION 4.  This Act takes effect September 1, 2025.